Materiality analysis

This analysis describes and discloses Boliden’s materiality aspects and its performance in relation to these aspects, which are considered to be material with reference to Boliden’s ability to maintain sustainable and stable processes, to achieve its vision of being “a world-class metals company”, and to fulfil the strategic direction and objectives. Boliden shall be among our industry’s leading companies in terms of customer satisfaction, efficiency and responsibility. This entails an understanding, readiness and progressiveness with regard to aspects deemed to be material.

The net list of material aspects has been identified and prioritised in a process that involved external and internal stakeholders. The process is described below and is based on Boliden’s past need to identify areas of sustainability priorities and goals to 2018, and on the Global Reporting Initiative’s principles for determining the content of a sustainability report.

In 2013, an internal programme of work designed to renew Boliden’s sustainability priorities and objectives for the period of 2014–2018 was carried out. That work included cross-disciplinary discussions, impact analysis, and importance in terms of Boliden’s overall results. Multiple internal experts participated and the areas and objectives were anchored across the organisation and adopted by Group management and the Board of Directors.

In order to comply more closely with the demands put forth in the G4 Guidelines, Boliden regularly consult selected stakeholder groups on its sustainability performance from a broader perspective. These stakeholders were asked to comment on Boliden’s strategic focus and to put forward potential additional key sustainability issues, opportunities for improvement, and the strengths and weaknesses of existing work. The consultation provided ideas on possible improvements to both the sustainability work and its reporting. Examples include: enhanced local stakeholder dialogue, clearly defined responsibility in the value chain, and better embracing of the customer perspective in Boliden’s sustainability priorities. Follow-up interviews and questionnaires conducted in 2015 and 2016 confirmed that safety and the environment are common priories among stakeholder groups.

As of 2015 Boliden has laid out the structure and content of its GRI Report on the basis of these findings and of the GRI’s principles concerning materiality and completeness. The report discloses:

• Subjects identified by stakeholders as priorities
• Subjects that are crucial in terms of Boliden’s ability to achieve its vision, and fulfil its goals, and which are relevant to the prioritised areas and strategies
• Major events for Boliden’s operations and value chain
• Performance

Boliden has, furthermore, determined boundaries for its materiality aspects. Boliden has a responsibility to promote and manage sustainability issues across the value chain. The self-acknowledged responsibility is reflected in the identification of the aspects that are material to Boliden. Part of fulfilling the GRI principle on Boundary entails determining the extent and boundaries of each aspect, based on its impact and priority. Boliden’s considerations are disclosed by means of symbols shown in connection with each material aspect – see list below for details.

Boliden’s material aspects are presented below. Two major categories have been defined: aspects that are at the core of sustainable and stable processes, with a direct impact on Boliden’s overall results, and aspects that relate to the impact on external stakeholders, their perception of Boliden and our ability to grow the business (licence to operate). All together, these aspects impact Boliden’s ability to become a world-class metals company and the first sustainable link in the metal’s value chain.

Boliden will update the materiality analysis on a regular basis in response to changing business requirements, changing stakeholder expectations, implementation of the global goals for sustainable development, and technological and scientific progress etc.

Material aspects